Innholdsfortegnelse for 2024-02-15 i Star

HEINEKEN’S consolidation of Distell and Namibia Breweries had positively impacted the Dutch global beer brewers net revenue by €887 million (R18.15 billion), or 3.1%, in its 2023 financial year, the results showed yesterday. The approximate R40bn acquisition of Distell and Namibia Breweries had extended the group portfolio and had created a new beverages champion in southern Africa, the Amsterdam-listed brewer said. The group had also exited Russia in the third quarter. Over the past year, Heineken faced pricing to offset unprecedented levels of commodity and energy inflation, which impacted consumer off-take. In the second half, however, pricing moderated and volume trends improved in most of Heineken’s markets. Group revenue for the year increased 4.9% to €36.4bn. Net revenue increased by 5.5% organically, with net revenue per hectolitre up…

CLICKS Group said yesterday that The Body Shop in South Africa would not be affected by issues affecting the UK operations of The Body Shop. The South African business would continue to operate as normal, Clicks Group said in response to a question from Business Report. Employees at The Body Shop can breathe easier after the Clicks announcement amid a moribund South African economy, characterised by high unemployment. Ethical cosmetics retailer The Body Shop in the UK collapsed into administration this week after facing tough competition from newcomers in recent years, including from those also touting ethical credentials. However, The Body Shops’ 199 UK stores and online service would continue to trade, while administrators sought a way forward for the company. Clicks Group has operated The Body Shop in South…

A FEW WEEKS into 2024, South Africa still stands at a crossroads in its energy landscape, facing challenges and opportunities that demand strategic vision and decisive action. We must emphasise the imperative of balancing affordability, access, and sustainability in the context of energy security. South Africa’s commitment to the NetZero directive and its transition towards cleaner, renewable energy sources can be seen as a model for inclusive and sustainable energy development in a developing nation. Energy security: A prerequisite for development Energy security is the linchpin of any nation’s development, and it entails ensuring the availability of energy resources, affordable access to energy services, and sustainability while minimising environmental impacts. The South African Energy Department's Integrated Energy Plan provides a roadmap for the future energy landscape, guiding infrastructure investments and…

THE PET SECTOR in South Africa, valued at about R7 billion by one of the largest retailers in the country, Shoprite, is seeing opportunities mushroom for small businesses. This was the case for Kaylee Barbosa, the CEO of her pet bakery business The Dog Duchess, based in Fourways, Johannesburg. The Dog Duchess provides a range of handcrafted custom cakes, treats and kibble boosters made from natural ingredients. Barbosa says running the business is now her full-time job, after having worked in the classic automotive industry for nine years. On starting her business journey, she told Business Report: “The Dog Duchess began in 2021, inspired by the challenges we faced when our beloved dachshund, Zara, underwent a back operation at a young age. “After her back op, we were…

MTN SOUTH Africa said yesterday that it was making noteworthy strides in its head office solar renewable energy Project at 14th Avenue, in Johannesburg. The company announced the energisation process of its solar renewable energy phase one project. With more than 50% completion, MTN said it had switched on 5 418 solar panels out of the planned 9 000. “This phased approach will inject 700kW into the 14th Avenue micro grid, making the head office 40% less reliant from the municipal grid,” the telecommunications giant said in a statement. “The aim is to inject a total of 1 800kW by the end of February, with the battery storage facility set to be installed by end-March. “This progress builds upon MTN’s groundbreaking move as a standalone Independent…

Award-winning actress Noxolo Dlamini delivers a potent performance in her upcoming film, Death of a Whistleblower. Inspired by the recent stories of real life South Africa’s whistle-blowers, the film takes a deep dive into state capture and the sheer power of principled speech. Set to air on streaming platform Amazon on February 28, the political thriller sees Dlamini in the lead as Luyanda Masinda, a bold investigative journalist unwilling to back down. After narrowly surviving the assassination of her whistleblower lover, Masinda joins forces with his inside man, Albert, to expose the deep-rooted state capture of military assets by a corrupt and powerful South African security group expanding and promoting warfare in Africa and beyond. Taking to Instagram, Dlamini wrote: “Without getting too sentimental!! This project was so many things…

THE Financial Intelligence Centre (FIC) has warned that it could penalise a large number of estate agents and legal practitioners with fines of up to millions of rand for continued non-compliance with their required obligations to remove South Africa from being greylisted. Last year, South Africa was greylisted by global financial crime watchdog the Financial Action Task Force (FATF) for not fully complying with international standards around the prevention of money laundering, terrorist financing and proliferation financing. The FATF gave South Africa until May this year to improve the supervision of designated non-financial businesses and professions (DNFBPs) by implementing and keeping up-to-date supervisory risk-assessment tools to identify DNFBPs at high risk of being abused for money laundering, terrorist financing, or proliferation financing purposes. South Africa has committed to resolving the…

Smile, you’re on camera and “Big Brother” is watching! The Gauteng provincial government, through Premier Panyaza Lesufi and Vumacam, have teamed up with Vumacam to unveil more than 6 000 new face-recognition CCTV cameras which will help law enforcement authorities in crime prevention and investigations around the province. Lesufi led the signing of a partnership agreement with Vumacam, which will see almost 7 000 cameras placed in townships, suburbs, informal settlements, roads, schools, and other public places to fight crime in Gauteng. The streets of Gauteng will be similar to the popular DStv Big Brother show, with participants in a house with cameras running 24/7. The aim of the cameras is to help monitor and nab those who are engaging in criminal activities in the absence of police. The cameras…

Ingredients 4 lamb shanks Olive oil 1 heaped tsp crushed ginger/garlic paste 1 large red onion, chopped Roughly 4 large cloves of garlic, peeled 2 tsp cayenne pepper 1 tsp cumin powder 2 tbsp harissa paste 2 tsp ground black pepper 2 tsp salt 3 tbsp pomegranate molasses Squeeze of lime juice ½ cup vegetable stock Pomegranate arils to serve (Taste and adjust seasoning if required) Method Wash and drain lamb shanks of any excess water. Place the ginger/ garlic paste, cayenne pepper, harissa, salt, pepper, pomegranate molasses and lemon juice in a bowl and combine well to make a paste. Add 1 tbsp olive oil and mix again. Rub marinade all over lamb (keeping the bone clean). Set aside for an hour. Preheat oven to 180ºC. Heat olive oil…

FOR decades it’s been the mainstay of the agricultural industry, the mining sector, security companies and overland enthusiasts. From stock standard to massively modified accommodation on wheels, the Toyota Land Cruiser 70 Series has become an icon of rugged reliability, especially in Africa and Australia. Updates have been few and far between because why scratch when there isn’t an itch? One thing that hasn’t been synonymous with it, though, is consumption and the many litres of fuel it takes to keep it running. A 4.0-litre naturally aspirated inline-6 petrol engine, a 4.2-litre naturally aspirated diesel plant and a 4.5-litre V8 turbo-diesel (all manual) are never going to feature on the best consumption charts. Throw in the whole emissions hooha and Toyota had to make a plan. And that plan was…

The first examples of the new Volvo EX30 electric car have hit South African shores, and with that the importer has released details on the local line-up. Starting at R775 900, the entry-level EX30 is one of the most affordable EVs in the country, beaten only by the GWM Ora 03, from R696 950 and the BYD Atto 7 that kicks off at R768 000. Volvo EX30 buyers get considerable performance for the money, with the Core Single Motor, rear-wheel drive base version offering 200kW and 343Nm, which Volvo claims is good for a 5.7 second 0-100km/h sprint. Now consider this: the EX30 base model is R900 cheaper than a base-spec Volkswagen GTI and also 0.7 seconds faster from 0-100, which takes a claimed 6.4 seconds in the VeeDub. As…

February 14 is a special day on the calendar. It’s a day where people across the globe celebrate love and companionship with their partners. Perhaps thanks to that spirit, February 14, 2024 will forever be remembered by many a South African as the day a divided nation became one. Before yesterday, Bafana Bafana had been at loggerheads with their fans for some time, having fallen from grace. But such were their heroics at the Africa Cup of Nations in Ivory Coast – amid a third-place finish – that the team received a hero’s welcome at the OR Tambo International Airport. It was a welcome that couldn’t have been imagined before the start of the tournament a month ago, as Bafana were tipped to exit at the group stage. Bafana hadn’t…

SuperSport United ‘host’ Stellenbosch FC in a DStv Premiership tie at the Peter Mokaba Stadium on Friday night (7pm kick-off) looking to not only confirm their status as potential challengers to Mamelodi Sundowns’ reign as champions, but also eager to maintain their recent superiority over the Cape Winelands team. Matsatsantsa a Pitori are currently third in the table with 29 points, the same as second-placed Cape Town City, some nine points behind the Brazilians, who have two games in hand. Stellies are also there and thereabouts in fourth position, Steve Barker’s team boasting 26 points from 15 matches, and no doubt believing they are in the running for continental football participation. It makes for a fascinating clash that SuperSport coach Gavin Hunt must be confident of winning, given the recent…

Dilemma, as it compels the government to augment the 2023 public sector wage increments THE LABOUR Court’s ruling compelling the South African government to augment the 2023 public sector wage increment with margins agreed during current wage negotiations places Finance Minister Enoch Godongwana in a dilemma in next week’s Budget, as he strives to contain government spending and at the same time cushion public sector workers against rising inflation in an election year. Jee-A van der Linde, a senior economist at Oxford Economics Africa, told Business Report in an interview yesterday that “spending pressures remain high” for South Africa. “Given that the economy is weak, further fiscal slippage seems inevitable. Treasury is expected to announce R15 billion in tax measures during the upcoming Budget,” he said. Although the 2023…

CONSUMERS in South Africa are ex- pected to continue struggling this year under the brunt of stubbornly high in- flation, rising cost of borrowing and weak consumer confidence after retail activity plunged in 2023, in spite of sales outperforming expectations in the fourth quarter. Data from Statistics South Africa (StatsSA) yesterday showed that retail trade sales fell by 1% in 2023 compared with 2022, reflecting a subdued consumer demand environment. The retail sector has been struggling to recover as discretionary spending was halted by persistently high consumer inflation, which was at the upper limit of the SA Reserve Bank’s target range at 6%, forcing interest rates to remain at a 13-year high of 8.25% virtually the whole year. StatsSA’s deputy director for distri- butive trade statistics, Raquel Floris said: “For…

SOUTH Africa’s monthly economic activity stayed the same last month, after improving in December last year, according to the BankservAfrica Economic Transactions Index (Beti). The sideways movement for economic activity amid the multiplicity of ongoing challenges BankservAfrica said confirmed that the economy remained in a “muddle-along” mode. Shergeran Naidoo, BankservAfrica’s head of Stakeholder Engagements, said yesterday that the Beti index for January remained unchanged at 133.3 points and improved by only 0.4% on a year-on-year basis. Amid the multiplicity of ongoing challenges, the economy has been unable to gain momentum despite the reprieve provided by the lower stages of load shedding and fuel price cut in January. The higher levels of load shedding experienced in the past week, and under-recovery in fuel prices, furthermore, signalled a bleak start to…

NO STATEMENT could be more apt for the digital age than: “Change is the only constant.” With new and exciting technology emerging by the minute, it can be difficult to keep up. But, by being selective and choosing the mediums that speak directly to your business and your audience, you can capitalise on the trends and ride the wave to business success. These are three of the digital marketing trends to look out for in 2024 for your small or medium enterprise: Video content won’t give up centre stage You would be hard pressed to find any social media user – both abroad and in South Africa – who isn’t aware of the rather sudden rise of video content. There’s no question about it, social media has become less about…

TymeBank and TFG partnership THE STRATEGIC partnership between TymeBank and TFG (The Foschini Group) has made significant progress since its official launch in January 2023, acquiring 1 million bank account customers in just more than a year. TymeBank’s record customer growth (8.7 million total customers since the launch in 2019) had benefited significantly from TFG’s large-scale retail ecosystem, it said yesterday. Through the TymeBank TFG Money bank account, which can be opened at a kiosk in more than 500 TFG stores nationwide, customers have direct and convenient access to highly affordable transactional banking and the most competitive savings interest rates in the market. TymeBank CEO Coen Jonker said: “This milestone is testament to the success of TymeBank’s partnership model, which has been an integral part of our strategy since…

Bafana Bafana coach Hugo Broos was in awe of the reception for his team at OR Tambo International Airport yesterday after their Africa Cup of Nations (Afcon) heroics. OR Tambo is said to be the biggest airport on the continent, but rarely on a weekday is it expected to be busy as early as 3am, hosting supporters who are singing, dancing and chanting. But as Bafana landed back in the country some time after 5am yesterday, following their third-place finish at the Afcon, they were welcomed with that euphoric atmosphere. It was the first time in 24 years that the country’s senior men’s football team finished third at the Afcon, following their fall from grace in recent times. Bafana’s support had declined to such an extent that they played most…

Lauren Dickason, the South African woman found guilty of killing her three young daughters weeks after emigrating to New Zealand, may be sentenced in March. The 42-year-old was found guilty in August last year of murdering her daughters, six-year-old Lianè, 6, and twins, Maya and Karla, 2, and was due to be sentenced in December. The three girls were killed on September 16, 2021. The matter returned to court this week, with a new date scheduled for March 20. The New Zealand Herald reported that there was a phone conference between the judge and lawyers and that the new date was set. Dickason was not present in court. In October, Dickason penned a heartfelt letter to her supporters. “Thank you to everybody for your love and support during this difficult…

An innovative new international collaborative study led by the University of Pretoria’s Professor Linda Theron is set to examine the network of risk factors and resilience resources that predict depression among the Not in employment, education or training (Neet) youth in Africa. This study will be led by Theron, of UP’s Educational Psychology Department, in collaboration with peers at the South African Medical Research Council, the University of Ibadan in Nigeria, the Universities of Leicester and Nottingham in the United Kingdom, and Dalhousie University in Canada. According to the study’s authors, thousands of young people across the continent are battling mental health issues such as depression. Challenges, such as poverty, make young people even more vulnerable to mental illness. Across Africa, one in five youths are Not in employment, education…

Art plays a crucial role in society, but it is often under-funded and thought of as a “useless” career as it can be relatively less lucrative than others. However, this does not change art’s impact to inspire, entertain and drive positive change in communities. Blessed Nyakarize, 26, knows all about this as a full-time artist. He wants to use art to spread awareness about gender-based violence (GBV), while creating a career out of what he loves. Born in Harare, Zimbabwe, the creative and other kids would often play with clay and create sculptures. He later moved to Claremont, Gauteng. Through this, his passion for art arose. “This opened me up and I got inquisitive about art and wanting to learn about the different types of art,” he said. “At school,…

TWENTY years ago, beloved Archbishop Denis Hurley died at the age of 90. Sadly, we see that many people who have made our world better in big and small ways have vanished before we were ready to let them go. It was once said that “genius is so fine and rare”. Hurley was a rarity and a fine specimen of human eloquence who inspired us all. His death was a loss for all humanity. We have lost a colossal mind and a wonderful spirit. He was an inspirational personality whose influence transcended international boundaries. He explained religious matters with graciousness. Many of us were impacted by his voice, life and legacy. The local and global acclaim that followed his death was a vindication of his immense stature as a scholar.…

Buyers of the all-new Honda CR-V are ensured the kind of exclusivity normally reserved for buyers of much more exotic machinery. The new midsize SUV is priced at a significant premium over its traditional rivals, with the 1.5T Executive commanding R959 900 and the 1.5T Exclusive stickered at R1 039 900. And by significant premium, we’re putting it very mildly. This pitches it far above the Toyota Rav4, priced from R705 600 to R841 600, Nissan X-Trail (R672 900 - R794 900) and Volkswagen Tiguan (R623 800 - R843 000). Even the BMW X1 seems quite accessible by comparison with its starting tag of R788 045. To be fair, we haven’t yet driven the new CR-V, so we don’t know if there is some magic formula that justifies the price…

Why do people believe that when someone says, “face the facts”, they will be confronted with truths they do not want to hear? Maybe it’s because of a cliché; the truth hurts. On second thought, life challenges are less terrifying when we know there are solutions. It’s easier to handle harsh truths when we know there is a path leading us to greater heights. Could accepting the harsh realities of life be the key to living a fulfilling existence? These insights look at the harsh realities faced today and how we can use research to adjust our views to understand and accept certain harsh truths about life. Many influential thinkers, including of Stoicism, believed that we live better lives when we are aware of death, and science agrees too. Recent…

The sporting industry is normally cut-throat and unforgiving. However, once in a while, it produces great life stories and comebacks. Dane Piedt’s return to the Proteas set-up is one of those great stories, after he claimed a five-wicket haul in the second Test against New Zealand in Hamilton yesterday. Prior to the Test tour of New Zealand, Piedt’s last series was against India away in 2019, where the Faf du Plessis-led side were handed a thrashing, losing all three matches. Piedt would go on to take only three wickets on that tour, and was then dropped. Expecting that that was his last dance in Proteas whites, the right-arm off-spinner packed his bags and moved to the US. Faced with a Black Caps team that has a number of left-handed top-order…

Bafana Bafana’s players might still be basking in the glory of their third-place finish at the Africa Cup of Nations, but they want to build on that momentum quickly. Bafana landed back on South African shores yesterday morning following their impressive outing at the recently concluded Afcon in Ivory Coast. And they were given a warm welcome at OR Tambo International Airport as fans defied the early Valentine’s Day festivities to duly welcome them back. But for Bafana captain Ronwen Williams, the fact that they were the third-best team at the finals hadn’t sunk in yet. “Not yet. We are still living in the moment. What we’ve achieved over the last few weeks still feels unreal,” Williams said in the media briefing afterwards. Williams had the right to feel that…

THE TOTAL value invested in bitcoin sur- passed $1 trillion (R19trln) yesterday for the first time since November 2021 as inflows to US spot bitcoin exchange traded funds continued to support prices. Bitcoin’s price reached $51902 yesterday, its latest 25- month high and a rise of 4.7% on the day, taking the token’s market cap to $1.017trln according to price platform Coingecko. The all-time high for bitcoin’s market cap was $1.28trln hit in November 2021, according to Coingecko. The world's largest crypto- currency has risen around 20% since the start of February, already set for its biggest monthly rise since October. Investments in bitcoin make up for more than half of the $2.01trln parked in the overall cryptocurrency market which includes ether and other digital coins. Strong inflows to new…

PARLIAMENT’S Portfolio Committee on Public Enterprises would not rubber stamp the department’s State of the Nation Address (Sona) commitments to urgently address service delivery shortfalls, particularly on load shedding interventions without the principals being present, especially Electri- city Minister Kgosientsho Ramokgopa. The Department of Public Enterprises (DPE) was giving an overview of the performance of the different parastatals and its most immediate response to the performance lethargy of entities including South African Airways (SAA), Transnet, Denel, Safcol and diamond producer Alexkor. Parliamentarians in the Khaya Magaxa-chaired committee preferred to defer the discussions of each State-owned enterprise separately and in the presence of line Ministers as they said issues of load shedding and improv- ing efficiency a the logistics entity, Transnet National Port Authority, were urgent. Through acting Director General…

ENTREPRENEURS are among the craziest creatures on Earth. Frantically enough, they keep believing, even when they cannot see how they’ll sur- vive the arduous path facing them. They hit many roadblocks, have num- erous doubts and eventually either fail or succeed in their venture. Some say that it’s the starting period right up until full failure or closure that determines and builds the entrepreneur. Many of us were glued to the tele- vision for the past month watching the Africa Cup of Nations (Afcon), which was hosted by the Ivory Coast. During the opening ceremony, I called a few friends to ask if they would be watching this spectacle. Lo and behold, many of them did not know that the Afcon was even happening. I dared them to watch Africa’s…

PAN AFRICAN Resources was well positioned to deliver on its 2024 financial year production guidance of between 180 000 ounces (oz) and 190 000oz of gold, CEO Kobus Loots said in a presentation yesterday. The surface reminer and deep surface gold mining company yesterday released interim results that showed profit well up by 46.7% to $42.4 million (R805m). Earnings per share and headline earnings per share increased by 46.1% to US2.22 cents per share (US1.52c per share). Speaking in a presentation, Loots said gold production for the six months came to 98 458oz (2022: 92 307oz), an increase of 6.7% relative to the six months ended December 31, while they had also benefited from the tailwinds of the rise in the rand gold price…

GOLD MINER DRDGold has reinvested R1 billion of cash generated in the half-year period to the end of December into capital infrastructure, reducing cash and cash equivalents on its books to R1.5bn compared to R2.47bn a year earlier after growing revenue from R2.6bn to R2.9bn. Although production of gold for the interim period under review fell 7% to 2 547 kilograms, the company benefited from an uptick in the rand price of bullion, translating to an increase in revenue generation. DRDGold as a result posted a 15% increase in operating profit to R909.3 million after costs after a 19% surge in all in-sustaining costs to R945 899 per kilogram. The rand gold price received by the company for the period was, however, 22% stronger at…

Umkhonto weSizwe Party interim youth leader and former #FeesMustFall campaigner, Bonginkosi Khanyile, has warned elders within the party “to stay clear of the affairs of young people”. Khanyile, who was axed by the Patriotic Alliance (PA) after he appeared during an MK Party event in December, was speaking during an address of MK Party activists at Uncle Tom’s Hall in Orlando West, Soweto, yesterday. “I want to tell the elders of the MK Party, please remove yourselves from the affairs of the youth league. Please leave young people alone. “They want to tell us what kind of T-shirts we must design and wear. These old people were busy attacking a young woman after she decided to design a T-shirt with my face on it. “Not that I want my face…

The Audi A3 range is set to receive a facelift this year, and customers of the S3 performance model can look forward to more than just a new look. Audi has released the first teaser pictures of its freshened-up S3, along with some information confirming a raft of engine, gearbox and chassis revisions. The cars you see in the pictures are disguised prototypes so you’re not going to see those crazy red wheels and grille trims in your local showroom, but the images do show off a new grille design with larger honeycomb segments appearing at the top and bottom sections. Matching rear diffuser trim and fresh LED taillights also appear to be part of the deal for those who plan on buying the facelifted S3. But the big news…

The Springboks are not for sale to American businessmen, and the country’s leading franchises will be informed of SA Rugby’s negotiations with potential investors. This was the response from the game’s governing body after it emerged that the CEOs of the Bulls, Lions, Sharks and Stormers had collectively penned a letter to their counterpart at SA Rugby, Rian Oberholzer, expressing their concerns over a potential equity deal with US firm Ackerley Sports Group (ASG). In a statement yesterday, SA Rugby emphasised that an equity deal cannot be signed off without the approval of the governing body’s provincial unions. “Once a proposed final structure for the new company and its relationship with the existing SA Rugby structure has been finalised, a series of workshops and information sessions will be undertaken to…

South Africa’s four franchises will return to action in the United Rugby Championship this weekend, and the next few months will be vital for players looking to impress the Springbok coaches in the lead-up to the international season. Double Tests against Ireland and New Zealand await, while an experimental side could feature in the one-off Test against Portugal and a possible friendly match with Wales – which makes it two good Tests for some fresh blood. Independent Newspapers takes a look at the players who have been impressive so far and looking to secure their place in the Bok squad for this year’s Tests. Today we feature tighthead prop, a position the Springboks should look to freshen up over the next few seasons with some new players ... The Incumbent:…

The Proteas Women are bracing themselves for what is the final assignment of the tour to Australia, the only Test match, at the Western Australian Cricket Association (Waca) ground in Perth today (5am start, SA time). For a team playing only their second Test in almost two years, the prospect of facing Australia in their own backyard in the longest format of the game is an exciting challenge. Captain Laura Wolvaardt told the media yesterday that the idea of playing Test cricket more regularly is something that the players would welcome. South Africa played in 13 Tests between 1960 and 2022, with a win against the Netherlands in 2007, seven draws and five losses. Their last Test was in June 2022 against England, while in comparison, Australia have featured in…

Mornay Smith turned 26 on January 30, which was just a few days after his beloved Bulls beat the Lions in a United Rugby Championship encounter at Loftus Versfeld. So, the 30-28 victory was an ideal birthday present, but it wasn’t a happy outing for the Bulls pack, who conceded a few scrum penalties to the Lions. In fact, a last-minute scrum penalty allowed Lions flyhalf Jordan Hendrikse to line up a long-range kick at goal for the win, but he wasn’t able to boot it over, and coach Jake White’s team survived. The Lions front row of JP Smith, Jaco Visagie and Asenathi Ntlabakanye got the better of Bulls counterparts Simphiwe Matanzima, Akker van der Merwe and Smith on January 27. So, the Pretoria outfit will look to avoid…